- Freeline Therapeutics Holdings plc (NASDAQ:FRLN) further assessed its strategic priorities and decided to pause the development of FLT190 in Fabry disease to focus its resources on advancing FLT201, which has the potential to be a first- and best-in-class gene therapy for Gaucher disease type 1.
- Based on its preclinical data, Freeline believes FLT201 can potentially improve clinical outcomes for patients with Gaucher disease type 1 with a one-time therapy.
- The company is actively screening patients for dosing in its GALILEO-1 Phase 1/2 trial of FLT201 in Gaucher disease and now expects to report initial data in Q3 of 2023.
- Earlier, the company expected initial safety and efficacy data in 1H of 2023 and updated data in 2H of 2023.
- The company has proposed to reduce its workforce by nearly 30%, bringing its headcount to approximately 65 employees.
- Unrestricted cash and cash equivalents were $47.3 million providing a cash runway into the second quarter of 2024.
- In the Q3 earnings update, the company stopped investment in further development of FLT180a (hemophilia program) without a partner.
- Price Action: FRLN shares are down 4.79% at $0.46 on the last check Tuesday.
Olleco and Bunge Announced Agreement to Form Joint Venture to Create a Full Life-Cycle Oil Collection Business in Europe
Bunge (NYSE: BG) and Olleco, the renewables division for ABP Food Group, today announced an agreement to form a 50/50 joint venture to create a business that encompasses the full life-cycle of edible oils.
